Jacobs & Co. CA Sells 1,685 Shares of Abbott Laboratories (ABT)

Jacobs & Co. CA decreased its position in Abbott Laboratories (NYSE:ABT) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 95,816 shares of the healthcare product maker’s stock after selling 1,685 shares during the period. Jacobs & Co. CA’s holdings in Abbott Laboratories were worth $4,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of Abbott Laboratories by 0.4% in the third quarter. Fisher Asset Management LLC now owns 12,435 shares of the healthcare product maker’s stock worth $526,000 after buying an additional 48 shares during the period. City Holding Co. raised its stake in shares of Abbott Laboratories by 0.7% in the third quarter. City Holding Co. now owns 47,279 shares of the healthcare product maker’s stock worth $1,999,000 after buying an additional 314 shares during the period. Searle & CO. purchased a new stake in shares of Abbott Laboratories during the third quarter worth about $441,000. Ronna Sue Cohen raised its stake in shares of Abbott Laboratories by 1.6% in the third quarter. Ronna Sue Cohen now owns 90,754 shares of the healthcare product maker’s stock worth $3,838,000 after buying an additional 1,460 shares during the period. Finally, Advisory Services Network LLC raised its stake in shares of Abbott Laboratories by 14.8% in the third quarter. Advisory Services Network LLC now owns 5,692 shares of the healthcare product maker’s stock worth $241,000 after buying an additional 735 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Shares of Abbott Laboratories (NYSE:ABT) traded down 0.03% during midday trading on Tuesday, hitting $38.73. 7,240,743 shares of the company were exchanged. The stock has a market cap of $57.02 billion, a PE ratio of 42.28 and a beta of 0.94. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.22. The stock’s 50-day moving average is $39.99 and its 200-day moving average is $41.00.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The company earned $5.30 billion during the quarter, compared to the consensus estimate of $5.29 billion. Abbott Laboratories had a net margin of 6.61% and a return on equity of 15.46%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. Equities research analysts anticipate that Abbott Laboratories will post $2.21 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Friday, October 14th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 114.29%.

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A number of brokerages have weighed in on ABT. Bank of America Corp. reiterated a “buy” rating and issued a $50.00 price target on shares of Abbott Laboratories in a report on Friday, August 12th. Deutsche Bank AG reiterated a “buy” rating on shares of Abbott Laboratories in a report on Tuesday, August 9th. Jefferies Group lifted their price target on shares of Abbott Laboratories from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 4th. BTIG Research reiterated a “buy” rating and issued a $45.00 price target on shares of Abbott Laboratories in a report on Wednesday, August 10th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $47.02.

In related news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $41.71, for a total transaction of $33,993.65. Following the completion of the sale, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Miles D. White acquired 121,456 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were purchased at an average cost of $40.45 per share, with a total value of $4,912,895.20. Following the completion of the acquisition, the chairman now owns 2,802,558 shares in the company, valued at approximately $113,363,471.10. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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